Looks like a sewing box. Aren't those spindles for spools of thread or hanks of yarn? That handle kind of looks like it was added maybe just to get a hold of it, but it seems like there would be another one on the back. It's cute - I'd find a use for it some where. I would also be inclined to refinish it; but then I am sooo not into old tired looking wood pieces anymore.

Would it be sacrilegious to paint it a poppy color, like tangerine or turquoise.
And, yes, you're right. There's the same handle on the other end, so you can lift the box. It'll be high enough as a side table next to a bed (19").

That's exactly what I was thinking color wise. It's not sacrilegious IMO. Tossing it to the curb would be sacrilege. Refinishing it in a natural stain would be a big improvement as well.

This is super cute and really functional IMO. I think a bright color would look much better than the dark. Maybe a cute shabby chic chalk paint in turquoise and ivory?